Description
Global Medical Ventilator Market Research Report—Forecast till 2027
Market Analysis
Global Medical Ventilator Market is anticipated to witness a significant CAGR of 4.14% to surpass USD 3,605.82 Million during the forecast period. A medical ventilator is a mechanical machine that acts as a bay to move air through the lungs for comfortable breathing. The pressure of moving air is controlled by the doctor. Chronic diseases are cardiac diseases, stroke, cancer, and respiratory diseases, and the ongoing novel coronavirus (COVID-19) is expected to surge the market during the review period.
The growth of the global market for medical ventilators is anticipated to exhibit substantial market growth owing to the rising prevalence of acute and chronic illnesses. The market growth is attributed to the growth in the number of the patient population, the current COVID-19 crisis, the rising use of medical ventilators in end-use verticals, and the increasing number of product launches and approvals. Furthermore, respiratory disease is also a leading cause of death and disability. However, according to healthy people 2020, asthma and chronic obstructive pulmonary disease (COPD) significant public health concerns. Thus, the increasing prevalence and rising rate of these respiratory diseases push the need for an effective ventilator for the continuous supply of oxygen to patients.
Market Segmentation
Global Medical Ventilator Market has been classified into portability, interface, technology, application, and end-user. Based on portability, the global market has been divided into stationary ventilators and portable ventilators. By interface segment, the global market has been divided into invasive and non-invasive.
Based on technology type, the global medical ventilator market has been bifurcated as automated and mechanical. In terms of application type, the market has been segmented into critical care, neonatal care, emergency care, and others. Based on end-user type, the market has been classified into hospitals and clinics, home care settings, and others.
Regional Analysis
Geographically, the global medical ventilator market research is spread across America, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas is likely to drive the market owing to the largest market share in 2019. The regional market is driven by the increasing prevalence of respiratory disorders, product launches, and acquisition. Europe accounted for the second-largest position in the medical ventilator market in 2019. The regional market is driven by the inorganic growth strategies of companies and a well-developed medical industry in Europe. Asia-Pacific is expected to exhibit the highest growing market during the projected timeframe owing to the increasing rate of COVID-19 patients and product approvals in the region. However, in the Middle East & Africa, the expansion of the medical ventilator market is growing at a steady rate. The ongoing pandemic of COVID-19 has increased the adoption of medical ventilators in South Africa, the UAE, and Saudi Arabia.
Major Players
The Key Players in the Global Medical Ventilator Market are Getinge AB (Sweden), GE Healthcare (US), Vyaire Medical, Hamilton Medical (Switzerland), Resmed (US), Koninklijke Philips NV (Netherlands), Inc. (US), Medtronic (Ireland), Drägerwerk AG & Co. KGaA (Germany), Smiths Medical (US), and Allied Healthcare Products Inc. (US).
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
